SKB-Bank launches new interest rates on deposits prior to Bank of Russia’s decision

17 July 2008 (12:03)

‘SKB-Bank introduced some new interest rates on deposits even before the Central Bank raised the refinancing rate,’ SKB-Bank’s Deposit Operations Director Denis Belogurov said to UrBC.

The Bank of Russia increased the annual refinancing rate from 10.75% to 11% on July 11, 2008.

‘SKB-Bank raised the interest rate it offers on the Gold Standard deposit by 1% on July 1, 2008. In addition, the interest rate offered on World Standard, the bank’s most popular deposit, is to go up 1% and thus to reach 14.5% a year on August 1, 2008. This figure offsets even the most pessimistic inflation forecasts for the year 2008,’ Belogurov explained.

Other materials on the topic::